We keep on hearing two things: ‘The next decade is the decade of Africa’ and ‘The next decade is the decade of FinTech’. We believe both to be true.
We have researched the FinTech scene of 36 African countries. Based on this we have formed three main observations char
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We keep on hearing two things: ‘The next decade is the decade of Africa’ and ‘The next decade is the decade of FinTech’. We believe both to be true.
We have researched the FinTech scene of 36 African countries. Based on this we have formed three main observations characterizing FinTech in Africa.
Diversity: African FinTech is often characterized by M-Pesa and other mobile money solutions. Our research has shown that FinTech is much more diverse in Africa embracing almost all cutting edge activities found globally.
Perfect Match: Africa and FinTech are like two perfectly matching pieces of puzzle. Low penetration of banking and high proportion of millennials is the perfect combination for FinTech to emerge.
Regulation Patchwork: 54 economies of often limited size make up the continent. Pan-African presence is hard to reach for FinTech startups due to the regulation patchwork of cross border activities between African countries.